Wells Fargo more than doubled its foreign‑exchange forwards exposure to U.S. mutual funds and exchange‑traded funds during the second quarter, spurred by heightened activity from Pimco and Vanguard.
The bank disclosed $124.6 billion in such positions, jumping from 12th to second place in the dealer rankings, according to FX Markets’ Counterparty Radar service, which monitors trade‑level derivatives holdings of U.S. mutual funds and ETFs based on industry filings.
Including its trades with US life